Transnet looking abroad for growth as it again cuts back on South African capex

State-owned freight logistics group Transnet continues to pare back its investment portfolio in the South African, which is expected to grow by less than 1% in 2017. The group, which operates rail, port and pipelines businesses, expects to invest R229.2-billion over the coming seven years, including the R20-billion already allocated for mergers and acquisitions. Previously, Transnet had planned to invest well over R300-billion during the period as part of its market demand strategy (MDS).